EUR/USD, GBP/USD rise and EUR/GBP stabilises as tariff concerns ease
EUR/USD, GBP/USD rise and EUR/GBP stabilises as tariff concerns ease amid a scheduled call between President Trump and President Xi Jinping.
EUR/USD rises further
EUR/USD's advance from Monday's $1.0210 low has the 55-day simple moving average (SMA) at $1.0418 in its sights, ahead of the key $1.0461-to-$1.0534 resistance area.
Support now sits at the November-to-December lows at $1.0344-to-$1.0333.
EUR/GBP stabilises
EUR/GBP's descent halted at Monday's £0.8292 low, above which and the mid-October low at £0.8296 the cross is trying to stabilise.
Below £0.8292 lies the late December low at £0.8264.
Minor resistance is still seen along the 55-day SMA at £0.8327 and then at the mid-to-late December highs at £0.8328.
GBP/USD rises further still
GBP/USD's recovery from Monday's $1.2250 low has taken it above the upper downtrend channel line at $1.2449 towards the 55-day SMA at $1.2507 and the late January high at $1.2524 which may act as minor resistance.
Potential slips may find support around the $1.2353 early January low and at the $1.2307 mid-January high ahead of Monday's low at $1.2250.
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